MR LANG’S BOLD TACTICS.

Timaru Herald, Volume CXXXIV, Issue 18848, 10 April 1931, Page 9

MR LANG’S BOLD TACTICS.

Stand For Repudiation. AUSTRALIA-WIDE CAMPAIGN OPENED. United Press Association—By Electric Telegraph—Copyright MELBOURNE, April 9. A motion not to allow Mr Lang to have the use of the Town Hall was carried by 26 to 4 votes. The Lord Mayor (Mr Luxton) stated: “I must say the city of Melbourne stands high in Australia for its integrity and its financial and business dealings. I personally would be bitterly disappointed if we allowed a dishonest, discredited man to preach dishonesty and repudiation in this Hall. The decision of the Committee shows every part of Australia and the world that Victoria will not stand for Mr Lang." MR LANG’S LOST CREDIT. COMMONWEALTH GOVERNMENT’S HELP. United Press Association—By Electrlo Telegraph—Copyright SYDNEY, April 9. Mr E. G. Theodore stated that the Commonwealth Bank had financed the Metropolitan Water Board by way of overdraft to the limit of £1,100,000. The Federal Treasurer explained that the Board was prepared to raise a loan on the market in order to carry on the work, and had been authorised by Mr J. T. Lang to offer up to 7 per cent interest, but a loan, even on these terms became impossible after Mr Lang had launched his repudiation policy. CLAIM FOR INTEREST. COMMONWEALTH GOVERNMENT’S CASE. United Press Association—By Electrlo Telegraph—Copyright ADELAIDE, April 9. The Premier (Mr L. L. Hill) announced that South Australia will be a party to the action of the Federal Government for the recovery of £729,251 paid by the Commonwealth to British bondholders through New South Wales having defaulted in the interest payment. As soon as possible after the High Court proceedings, meetings of the Loan Council will be held to determine the policy consequent upon the default by that State. STOCKS HARDEN. MORE SOLID SUPPORT IN SYDNEY. United Press Association—By Electrle Telegraph—Copyright (Received April 9, 8.30 p.m.) SYDNEY, April 9. Inquiry for Comonwealth bonds is a feature of the Stock Exchange, almost every issue having advanced to much higher levels. The trend in political events in Federal and State affairs has inspired greater confidence, thus ensuring solid support for all gilt-edgeas. Bank shares are steady. TWO LABOUR PARTIES. NEW SOUTH WALES SPLIT. DRASTIC DECISIONS OUTLINED. SYDNEY. April 2. The serious nature of the split in Labour ranks in New South Wales is exemplified by the fact that at the next Federal elections, providing things remain as they are, there will be two sets of candidates each claiming official endorsement. Labour has always boasted its unity, except when the conscription issue rent it asunder many years ago, but now unity seems to have been cast overboard for ever. Australia now is told that the Federal executive is in supreme command, and by way of reply the State executive says it cannot, and will not, be dictated to by anybody. “Very well,” says the Federal executive, in effect, “you don’t exist.” “Mind your own business,” says the State executive, which proceeds to show very positively that it does exist. The object of the Federal executive is to smash the Lang control of the Labour Party in New South Wales; hence the ultimatum to all electoral councils. Labour leagues, and affiliated unions that they must pledge allegiance to the Federal Labour Party by 30th April or be expelled. The Federal Conference. held in Sydney during the week-end, took the view that unity was now impossible and that a new Labour organisation would have to be established in New South Wales. The decision to expel the State executive immediately was made to apply to it as a body. Individual members could still remain within the movement by conforming to the Federal policy, which is wholly opposed to the financial arrangements introduced by Mr Lang. It has been made clear that the fifteen Labour members in New South Wales who have remained true to Mr Scullin will be endorsed at the next election. The State executive has decided to fight uncompromisingly the intrusion of the Federal body into State A.L.P. affairs. The president (Mr J. J. Graves) said: “By whatever name the new party may become known, it will not seduce the allegiance of one man from the Australian Labour Party. On more than one occasion I have referred to the similarity of the present Labour crisis to what occurred in 1916. In 1914 Mr Fisher was returned with as tremendous majority as Mr Scullin was in 1929. Before the Labour Ministry was two years old, Mr Hughes who succeeded Mr Fisher, quarrelled with the Labour movement in New South Wales, just as Messrs Scullin and Theodore are doing now. But they did not kill it. Mr Hughes, with a handful of followers, founded a new party and found a new name for it, just as Mr Theodore is doing now. Mr Hughes shunned the Trades Hall, and met in sumptuous surroundings, just as Mr Theodore is doing to-day.” The Federal Platform. As opposed to Mr Lang’s repudiation policy, which was declared to be contrary to the Labour policy, the Federal conference adopted the following platform:— (1) The control of currency, interest, and exchange by a Commonwealth central bank. (2) Management of the Commonwealth Bank to be established on lines that will enable that institution to function actively and aggressively Jin

competition with private banks, all savings business to be absorbed by arrangement with the State Governments. (3) Immediate efforts to stimulate 1 industry to absorb unemployment by starting Commonwealth and State public works, the fiduciary currency to finance those works to be pushed forward determinedly. (4) The Commonwealth Government should obtain authority to control rates of interest on bank deposits, advances, and overdrafts. (5) Interest on State and Commonwealth bonds should be taxed for the purpose of compelling bondholders to contribute a share of national sacrifice. (0) An effective tariff should be continued. (7) Overseas exchange to be carefully watched, and, if necessary, controlled by the Federal Government. The Prime Minister, realising the Importance of the issues, attended the Federal conference in the capacity of a Victorian delegate. He said that the responsibilities of the States and the Commonwealth with regard to unemployment had been of more concern to him than any other qestion since he had become Prime Minister. He regarded it as the duty of the States to deal with unemployment, the Commonwealth to assist in equalising the burden. In the case of South Australia, for instance, greater assistance had been given because the position waa worse there than anywhere els*